India's consultancy sector to grow to Rs 17K cr by '10
An Assocham study listed professional competence, low cost structure and diverse capabilities as reasons why Indian consultants were scoring over their global peers.
By PTI |
NEW DELHI: Fuelled by increased demand for consultancy services by domestic and foreign firms, the sector in India is projected to grow at an annual rate of 30 per cent to become a Rs 17,000 crore industry, an Assocham study said.
The consulting industry in India currently stands at Rs 13,000 crore.
Rising opportunities due to a booming economy and growing demand for consultancy services would result in a 28-30 per cent growth in the sector that would touch over Rs 17,000 crore by 2010, Assocham said on Tuesday in its paper on Opportunities for Consultancy.
The sector's growth would mean substantial consultancy opportunities for project managers. There would be over 2.2 lakh people working in this field over the next three years in the 8500-9000 consultancy firms across the country. They would specialise in consultancy projects in engineering, designing, financing, auditing, and hospitality.
Currently, there are about 6000 consultancy firms in major cities like Delhi, Bangalore, Hyderabad, Chennai, Cochin and Dehradun.
The chamber listed professional competence, low cost structure, diverse capabilities and adaptability as reasons why Indian consultants were scoring over their global peers.
"The US, UK, Japan, China, Saudi Arabia and Gulf nations acknowledge India's consultancy firms. In the EU as well, demand for Indian consultancy firms is growing given the competitive edge of these firms over their counterparts in the ASEAN countries," Assocham President Venugopal Dhoot said.
Indian consultancy capabilities are strong in areas like civil engineering, telecom, power, metallurgy, chemical and computer software, it said.
The consulting industry in India currently stands at Rs 13,000 crore.
Rising opportunities due to a booming economy and growing demand for consultancy services would result in a 28-30 per cent growth in the sector that would touch over Rs 17,000 crore by 2010, Assocham said on Tuesday in its paper on Opportunities for Consultancy.
The sector's growth would mean substantial consultancy opportunities for project managers. There would be over 2.2 lakh people working in this field over the next three years in the 8500-9000 consultancy firms across the country. They would specialise in consultancy projects in engineering, designing, financing, auditing, and hospitality.
Currently, there are about 6000 consultancy firms in major cities like Delhi, Bangalore, Hyderabad, Chennai, Cochin and Dehradun.
The chamber listed professional competence, low cost structure, diverse capabilities and adaptability as reasons why Indian consultants were scoring over their global peers.
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"The US, UK, Japan, China, Saudi Arabia and Gulf nations acknowledge India's consultancy firms. In the EU as well, demand for Indian consultancy firms is growing given the competitive edge of these firms over their counterparts in the ASEAN countries," Assocham President Venugopal Dhoot said.
Indian consultancy capabilities are strong in areas like civil engineering, telecom, power, metallurgy, chemical and computer software, it said.
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